Granvora Feeds — Appendices

Monthly revenue projection for Year 1 (ZAR millions):

Granvora Feeds (Pty) Ltd Business PlanSection 15 › Appendices

Section 15 · Business Plan

Appendices

Monthly revenue projection for Year 1 (ZAR millions):

Appendix A: Detailed Revenue Build-Up

Monthly revenue projection for Year 1 (ZAR millions):

Month Volume (t) Avg Price (ZAR/t) Revenue (ZAR m)
Month 1 2,000 3,000 6.0
Month 2 3,000 3,000 9.0
Month 3 3,500 3,000 10.5
Month 4 4,000 3,000 12.0
Month 5 4,500 3,000 13.5
Month 6 5,000 3,000 15.0
Month 7 5,500 3,000 16.5
Month 8 5,500 3,000 16.5
Month 9 6,000 3,000 18.0
Month 10 6,500 3,000 19.5
Month 11 7,000 3,000 21.0
Month 12 7,500 3,000 22.5
TOTAL 60,000 3,000 180.0

Appendix B: Feed Formulation Cost Breakdown

Indicative cost composition for Broiler Grower Feed (per tonne):

Ingredient Inclusion Rate (%) Cost/kg (ZAR) Cost/Tonne (ZAR) % of Total
Yellow Maize 60% 3.80 2,280 55.6%
Soybean Meal (47% CP) 25% 9.50 2,375 23.1%
Sunflower Oilcake 5% 5.20 260 6.3%
Limestone 2% 1.50 30 0.7%
Mono-calcium Phosphate 1.5% 12.00 180 4.4%
Vegetable Oil 2% 18.00 360 8.8%
Vitamin/Mineral Premix 0.5% 85.00 425 0.4%
Salt & Amino Acids 0.5% 25.00 125 0.3%
TOTAL (Raw Materials) 96.5% 6,035 99.6%
Processing Cost 165 0.4%
TOTAL PRODUCTION COST 100% ~2,100 100%

Note: Raw material prices are indicative and subject to seasonal and market fluctuations. The above formulation is simplified for illustration; actual formulations contain 15–20 ingredients optimised via least-cost linear programming software.

Appendix C: Break-Even Analysis

The Company’s break-even analysis indicates:

Metric Value
Fixed Costs (Year 1) ZAR 36.7 million (operating expenses + depreciation + interest)
Variable Cost per Tonne ~ZAR 2,100
Contribution Margin per Tonne ~ZAR 900 (at ZAR 3,000 ASP)
Break-Even Volume ~40,800 tonnes per annum
Break-Even Revenue ~ZAR 122.4 million
Break-Even Utilisation ~34% of Phase 1 capacity
Safety Margin (Year 1) ~32% above break-even

Appendix D: Five-Year Volume & Revenue Chart Data

Summary data for visual reference:

Year Production Volume (000 tonnes) Revenue (ZAR m) EBITDA (ZAR m) Net Profit (ZAR m)
Year 1 60 180.0 24.3 8.6
Year 2 90 283.5 45.7 24.6
Year 3 120 396.9 70.5 43.2
Year 4 160 496.1 95.3 60.1
Year 5 200 630.0 136.5 90.8

Appendix E: Contact Information

For further information, please contact:

Granvora Feeds (Pty) Ltd

Bothaville, Free State, 9660, South Africa

Thabo Maseko, Chief Executive Officer

Email: thabo.maseko@granvorafeeds.co.za

Tel: +27 (0)56 515 XXXX

Pieter van der Walt, Chief Financial Officer

Email: pieter.vanderwalt@granvorafeeds.co.za

Tel: +27 (0)56 515 XXXX

— END OF BUSINESS PLAN —

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